Earnings flow was pretty slow today ahead of the FOMC minutes dump at 2 p.m. ET, which could spark some volatility.
We didn’t see any orders hit in companies reporting this week by early this afternoon.
But we have seen multiple bullish orders in Uber (UBER) ahead of the company’s Halloween morning earnings report…
As well as a couple of orders in Citibank (C ), which follows its big-bank brothers that begin reporting Friday with its own quarterly report coming before the open on Tuesday.
Both of these stocks are also showing strength today, with UBER up 1.4% and C up 1.3% as of 12:30 p.m. ET.
So let’s take a look at these two movers…
We saw two orders in C so far today, one in the October monthly expiration, $63 strike calls with shares trading above $64 this afternoon. These have moved a bit from the bull’s entry point around $2.00 a contract.
The second order came in the March $70 calls… That’s way way too long-dated for our taste, but it’s always good to see multiple bullish orders in one ticker ahead of its report.
For UBER, we’ve seen three bullish orders, two today and one Tuesday. Once again, we have a SUPER long-dated order in the January 2026, $95 strike — who the heck is looking that far ahead in this market?!
But hey, whatever floats your boat…
The other two orders came in the Nov. 22 $78 calls, and the Oct. 25 $77 calls (which just miss the company’s earnings date).
2:20 p.m. ET update: We just got yet another order for UBER calls… and this one’s quite bullish!
It’s about $665K worth of premium in the December $85 calls, which are about $7 out of the money with the Market Maker Move at $12.14 higher or lower by this expiration.
Order Flow:
*This is for informational and educational purposes only. These are not official alerts issued by Lance, but rather some interesting orders picked by the team at Lance Ippolito Trading.
There is inherent risk in trading. Trade at your own risk.
- UBER Nov24 22nd Strike: 78 Calls premium: $108,960 ASK BULLISH
Trade Date: October 9, 2024 Trade Time: 12:10 pm - UBER Jan26 Strike: 95 Calls premium: $209,600 ASK BULLISH
Trade Date: October 8, 2024 Trade Time: 12:40 pm - UBER Oct24 25th Strike: 77 Calls premium: $122,500 ASK BULLISH
Trade Date: October 8, 2024 Trade Time: 9:51 am - UBER Dec24 Strike: 85 Calls premium: $664,595 ASK BULLISH
Trade Date: October 9, 2024 Trade Time: 2:20 pm - C Mar25 Strike: 70 Calls premium: $303,563 ASK BULLISH
Trade Date: October 9, 2024 Trade Time: 12:03 pm - C Oct24 Strike: 63 Calls premium: $103,500 ASK BULLISH
Trade Date: October 9, 2024 Trade Time: 10:12 am
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
The team at Lance Ippolito Trading
Lance doesn’t want the CCP spying on him, so you’ll never find him on TikTok. Same goes for other social media sites, which are filled with impersonators, scammers and crypto bros.
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And in his private Telegram channel: https://t.me/+-gVwEIwGJhplMTgx
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. It’s Officially ‘Volatility Season’
Historical performance during election years shows stocks could experience the most volatile period up to Nov. 5th.
But I’m not worried…
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The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 5/19/22 through 9/10/24, the average win rate is 73.8%. The average return was 6.6% over a 6 day average hold time, the average winner was 28.9%. All examples based on $2,500 starting stake unless otherwise stated.
